MN INSURANCE EXAM PROPERTY AND
CASUALTY FINAL STUDY GUIDE 2026
SOLVED QUESTIONS FULLY CORRECT
⫸ $____ fine per day if a person violates, aids, or abets a written cease
and desist order Answer: $10,000
⫸ License fee may request a hearing within ____ days of
commissioners order. After hearing request, Commissioner has ____
days to hold the hearing. Answer: 30 Days, 30 days
⫸ All accident and health insurance policies must be filed with the
commissioner at least ____ days prior to use Answer: 60 days
⫸ During Pre-licensing...
____ hours per major line of authority
_____% passing score on state exam
____ number of years the exam results are valid Answer: 20, 70%, 3
YEARS
⫸ License application fee Answer: $50 per line of authority
⫸ ____ Credit hours per licensed producer
,___ hours must be in ethics Answer: 25 credit hours, 3
⫸ ___ hour partnership prior to selling LTC Answer: 8 hour
⫸ ___ hour refresher course every two years after initial training for
LTC Answer: 4 hours
⫸ License periods after the first licensing period are___ years Answer:
2 years
⫸ A temporary insurance producer license may be issued for up to ___
days Answer: 180 days
⫸ A licensee's time to notify the commissioner of address change is ___
days Answer: 10 days
⫸ A license is suspended for any period of time no less than ___
months Answer: 3 months`
⫸ A person who's license is revoked can reapply after ___ years. The
producer must obtain a performance bond of at least _____ Answer: 2
years, $20,000
⫸ Commissioner may fine a producer up to ___ per violation Answer:
$10,000
, ⫸ The insurer must fine notice of appointment within ___ days of first
sale by the producer. Answer: 15 days
⫸ An insurer that terminates an appointment must notify the
commissioner within _____ days Answer: 30 days
⫸ Within ____ days, the insurer must send written notice of the
termination to the producer. Answer: 15 days
⫸ Within ___ days after receiving notice of termination, the producer
may file written comments concerning the termination with the
commissioner Answer: 30 days
⫸ The penalty for failing to appoint a producer is $____ per offense,
and up to $____ maximum per unappointed producer Answer: $25, $300
⫸ The producer must notify the commissioner of any administrative
action taken or criminal prosecution against the producer within ____
days Answer: 30 days
⫸ The producer must notify the commissioner within ______ days of
any felony or gross misdemeanor conviction, guilty plea, or plea of no
contest. Answer: 10 days
CASUALTY FINAL STUDY GUIDE 2026
SOLVED QUESTIONS FULLY CORRECT
⫸ $____ fine per day if a person violates, aids, or abets a written cease
and desist order Answer: $10,000
⫸ License fee may request a hearing within ____ days of
commissioners order. After hearing request, Commissioner has ____
days to hold the hearing. Answer: 30 Days, 30 days
⫸ All accident and health insurance policies must be filed with the
commissioner at least ____ days prior to use Answer: 60 days
⫸ During Pre-licensing...
____ hours per major line of authority
_____% passing score on state exam
____ number of years the exam results are valid Answer: 20, 70%, 3
YEARS
⫸ License application fee Answer: $50 per line of authority
⫸ ____ Credit hours per licensed producer
,___ hours must be in ethics Answer: 25 credit hours, 3
⫸ ___ hour partnership prior to selling LTC Answer: 8 hour
⫸ ___ hour refresher course every two years after initial training for
LTC Answer: 4 hours
⫸ License periods after the first licensing period are___ years Answer:
2 years
⫸ A temporary insurance producer license may be issued for up to ___
days Answer: 180 days
⫸ A licensee's time to notify the commissioner of address change is ___
days Answer: 10 days
⫸ A license is suspended for any period of time no less than ___
months Answer: 3 months`
⫸ A person who's license is revoked can reapply after ___ years. The
producer must obtain a performance bond of at least _____ Answer: 2
years, $20,000
⫸ Commissioner may fine a producer up to ___ per violation Answer:
$10,000
, ⫸ The insurer must fine notice of appointment within ___ days of first
sale by the producer. Answer: 15 days
⫸ An insurer that terminates an appointment must notify the
commissioner within _____ days Answer: 30 days
⫸ Within ____ days, the insurer must send written notice of the
termination to the producer. Answer: 15 days
⫸ Within ___ days after receiving notice of termination, the producer
may file written comments concerning the termination with the
commissioner Answer: 30 days
⫸ The penalty for failing to appoint a producer is $____ per offense,
and up to $____ maximum per unappointed producer Answer: $25, $300
⫸ The producer must notify the commissioner of any administrative
action taken or criminal prosecution against the producer within ____
days Answer: 30 days
⫸ The producer must notify the commissioner within ______ days of
any felony or gross misdemeanor conviction, guilty plea, or plea of no
contest. Answer: 10 days
